This provides contingency funding when you have exceptional needs. We would not have been able to respond to those disasters we are responding to today without this.
What's worrying is that this year's needs have been so unprecedented that we have hit the trigger set at a relatively high level.
The IFRC hopes this year's payout will help quell any doubts from donors who have previously expressed scepticism about whether they (disaster insurance products) work or are ethical.
The organization is seeking to raise close to 100 million Swiss francs for its 2025 disaster response budget in Geneva on Friday.
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